From Venture Capitalism to Vulture Capitalism

Former US government officials often become either lobbyists or high paid executives for corporations over whom they previously had some regulatory power. They then often return to government much richer than when the left to serve the interests of those corporations.

Bailout Blackout: Demand Full Accounting

Some $350 billion in taxpayer cash has been handed over to the biggest banks in the country without oversight or even the slightest curiosity by the US government about what has been done with the money.

Can Reparations-for-All Replace the Failed Bailout?

Corporate Welfare, corporate communism, call it what you; let's not make a deal. Let's indict. The probelms that have led to today's recession were cause by bad regulators and the short-sighted members of Congress who enabled them.

Why We Fight to Save Autoworkers’ Jobs

There have been various calls to let the domestic automakers fold. That bad decisions have led them to this juncture and if bankruptcy comes, so be it – why shouldn’t they be allowed to fail goes the argument.

Overview of the Economic Crisis

What will be impact of the Wall Street bankruptcies, bailouts and blunders on working people in this country and worldwide? What's the solution to the crisis?


A Most Desperate Move by the Fed

Last Tuesday, December 16 (2008), the Bernanke Fed took the most unusual step of lowering the overnight inter-bank lending rate, the federal funds rate, to a level never reached before, i.e. zero percent with an upside limit of 0.25 percent.


Auto Salvation and Restructuring – Only the Workers Can Make it Happen

The collapse of the congressional short-term bailout of the imperiled US auto industry brings us to a crossroads. The immediate cause was right-wing Republican demands to kill the UAW as the price tag for its support.


Paul Krugman's Ideological Campaign for the Return of 'Depression Economics'

Paul Krugman has launched a determined ideological campaign for the return of the ideas of John Maynard Keynes as the best and most effective framework, for both economic theory and policy, to address the rapidly spreading global financial and economic crisis.

Auto Bailout: Union Says, 'We're Not Bankers'

Auto workers are fighting back. Over the past weeks, right-wing pundits, the mainstream media, and many in Congress have opposed providing the automakers with a requested $34 billion loan as part of the $700 billion package already passed last October to help the companies avoid looming bankruptcy.

Iraq in a Global Context

The global financial crisis, with its enormous proportions that is storming capitalist economies today, is an expression of the internal contradictions of globalized capitalism, revealing once again the inability of the system to resolve these contradictions.